State of Tennessee Treasury Department lessened its position in Ingevity Corp (NYSE:NGVT) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,545 shares of the company’s stock after selling 3,652 shares during the quarter. State of Tennessee Treasury Department owned 0.08% of Ingevity worth $2,364,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NGVT. Nationwide Fund Advisors boosted its position in Ingevity by 7.0% during the third quarter. Nationwide Fund Advisors now owns 58,266 shares of the company’s stock valued at $3,640,000 after buying an additional 3,827 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in Ingevity during the third quarter valued at about $487,000. Old Mutual Global Investors UK Ltd. purchased a new stake in Ingevity during the third quarter valued at about $328,000. Prudential Financial Inc. boosted its position in Ingevity by 142.3% during the third quarter. Prudential Financial Inc. now owns 173,261 shares of the company’s stock valued at $10,824,000 after buying an additional 101,750 shares during the period. Finally, Smith Asset Management Group LP purchased a new stake in Ingevity during the third quarter valued at about $1,138,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.
Ingevity Corp (NYSE NGVT) traded down $1.01 during trading on Wednesday, hitting $77.63. 112,195 shares of the stock were exchanged, compared to its average volume of 238,781. The company has a current ratio of 2.41, a quick ratio of 1.36 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $3,336.56, a price-to-earnings ratio of 30.74, a P/E/G ratio of 1.88 and a beta of 0.93. Ingevity Corp has a one year low of $53.62 and a one year high of $82.10.
Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.09. Ingevity had a net margin of 12.99% and a return on equity of 50.74%. The business had revenue of $229.50 million during the quarter, compared to analyst estimates of $214.94 million. During the same period last year, the business posted $0.34 earnings per share. Ingevity’s quarterly revenue was up 8.8% compared to the same quarter last year. sell-side analysts anticipate that Ingevity Corp will post 3.51 earnings per share for the current year.
Several analysts have issued reports on NGVT shares. Loop Capital cut their price target on shares of Ingevity from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, December 26th. Zacks Investment Research lowered shares of Ingevity from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. KeyCorp reiterated an “overweight” rating and set a $89.00 target price (up from $78.00) on shares of Ingevity in a report on Friday, February 23rd. Rowe reiterated an “outperform” rating and set a $90.00 target price (up from $80.00) on shares of Ingevity in a report on Thursday, November 30th. Finally, SunTrust Banks reiterated a “buy” rating and set a $90.00 target price on shares of Ingevity in a report on Friday, February 23rd. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $86.13.
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Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The Company is also a manufacturer of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. The Company operates through two segments: Performance Materials and Performance Chemicals.
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